Encore Capital ( (ECPG) ) has shared an announcement.
Encore Capital Group, Inc. reported robust financial performance in Q3 2024, driven by record portfolio supply and high U.S. charge-off rates. The company’s U.S. operations, MCM, achieved its highest quarterly collections since 2021, with a 22% increase in collections and a 28% rise in portfolio purchases compared to the previous year. Meanwhile, the UK market showed slower growth with low charge-off rates. Overall, Encore’s global portfolio purchases surged by 23%, reflecting its strategic focus on high-return U.S. opportunities, while maintaining a disciplined approach in Europe.
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